Robotic parking co Parkomat raises NIS 23m in TASE IPO
In spite of the dearth of new choices on stock marketplaces in recent months, Israeli robotic parking devices firm Parkomat Global has reportedly ensured increasing NIS 23 million on the Tel Aviv Stock Exchange (TASE) at a corporation valuation of NIS 41 million, just before revenue. The IPO was led by underwriters Leumi Associates.

Dependent in Ness Ziona, Parkomat was established in 2009. The business ideas, develops, delivers, assembles and products and services mechanical and robotic parking techniques for serious estate assignments in Israel and abroad. At the very same time via its subsidiary Jupiter, Parkomat develops and sets up robotic installations for the brief charging of electric vehicle batteries.

Parkomat cofounder Giora Naveh serves as CEO and chairman of the organization. He is the company’s controlling shareholder alongside one another with the other three founders.

The enterprise has been increasing rapidly with earnings of NIS 66.3 million in 2021, up 51.2% from 2020, when earnings was 28% increased than 2019. Overall revenue in 2021 was NIS 6.1 million, up from NIS 3.3 million in 2020, and NIS 380,000 in 2019.

Parkomat has 60 staff and says it has shipped 250 assignments to date with hundreds of parking areas. The mechanical parking units are dependent on hydraulic lifting which requires edge of unused room in underground car parks (8% of corporation earnings), whilst robotic techniques manage parking in a computerized and automated way (92% of earnings).

Parkomat estimates that each and every parking place charges a developer NIS 50,000, not such as infrastructure, and estimates that the market place in Israel is worth NIS 500 million each year.

Released by Globes, Israel business news – en.globes.co.il – on July 3, 2022.

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